Use tech to tackle debt, says BoTBank of Thailand governor Sethaput Suthiwartnarueput giving a keynote speech at the virtual forum "The future of financial system." Digital technology should be used to tackle household debt and make it easier for small and medium-sized enterprises (SMEs) to access loans, said Bank of Thailand governor Sethaput Suthiwartnarueput. Recently the central bank revealed it planned to test its Retail Central Bank Digital Currency (Retail CBDC) in the second quarter of 2022, allowing all related parties to participate in the testing process. The central bank studied and surveyed Retail CBDC implementation with all stakeholders, including consumers, financial institutions, merchants, the government sector and others. The Bank of Thailand governor reiterated that electronic payment transactions has increased to an average 251 transactions per person per year.

Source: Bangkok Post September 13, 2021 23:37 UTC